5/6, 10:07 AM (Source: TeleTrader)
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ECB bulletin: High rates of COVID cloud near-term outlook

Despite the recovery registered "in global demand," coronavirus infection rates remain "persistingly high," which has made the near-term economic outlook somewhat "clouded," the European Central Bank (ECB) said on Thursday in its latest Economic Bulletin.

The report, published on the heels of the monetary policy meeting held on April 22, noted that the outlook for the entire 2021 is more optimistic, anticipating "a firm rebound in economic activity." It also added that favorable financing conditions must be upheld in order to facilitate the recovery process, by "reducing uncertainty and bolstering confidence."

"Inflation has picked up over recent months on account of some idiosyncratic and temporary factors and an increase in energy price inflation. At the same time, underlying price pressures remain subdued in the context of significant economic slack and still weak demand," the report concluded.

Breaking the News / BU